Can We Trust The SEC?
Dumb Money w/ Matt Kohrs

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Don't be mistaken, the apes won't be shaking or breaking because we're going to the monday very soon going to wake up on the moon brand new yacht and the mcdonald's in my living room, bright, yellow, lamborghini, 50 meter, swimming pool shit pain every day, ain't fam. What you do wan na hang wan na you got a mansion too. Oh, that's right, held them tight, jack titties every night. We was in way back when they tried to drop it down to ten henches couldn't come for him.

Ace was strong until the end. Now, let's pretend shit to tell they'd be sweating had enough of these villains, but the eggs were rebelling cause we never be selling till we sent it to heaven now we'd be out of yelling, hey screw. You kenny bought my wife, a minivan to share with the boyfriend, but i pull up in the benz played saying olive cranes going on an airplane. Don't think we'll be back again celebrating every day like it's, your birthday screw kenny cause we're holding on for the life.

Getting damned so soon, don't be mistakenly, ace won't be shaking or breaking because we're going to or breaking because we're going to the moon. Today's expectation probably more manipulation. If you'd be a creation of a crooked operation bought more while it was low, got more dips in trader joe's. Oh, you thought that we'd let go what the hell you take us for holla.

If you spend your last dollar on bananas, while living in squalor, we don't claim to be scholars. We the smooth brain dummies and we never stood taller yeah. We do this for love and we do this for our honor, a follower. 11 ain't got nothing on us.

We the planet of the apes anymore, as we trust m-o-a-s-s. Oh hell, yes, gon na, send it into space, go fire up the jets done. My dd call me out giant rocket man. This is the way gon na be girl, really that's ground control to major time.

We bout to have liftoff call us neal 8 strong gon na keep holding on screw kenny cause we're holding our foot. Getting don't be mistaken, the apes won't be shaking or breaking because we're going through the to the mud, foreign, hello, hello, hello. I am so incredibly excited to bring you this little piece of content, this stream, this video right here, if you don't know about it. A couple days ago, i had the absolute privilege to be amongst a group of very knowledgeable and talented people who were talking everything about the market, the sec, everything that's going on, and one of the interesting parts of this, and what i'm really referring to is.

Mr john stewart's, the problem episode five talking about the stock market. One clip really caused a big response from the people and the clip which i have right here. Fortunately, shout out to jon stewart shout out to apple: they allowed us to play it, so we will be watching it. It was his interview with gary gensler, so here's the plan for this evening we'll be watching that clip.

I want to see your reactions because there's quite a bit of an uproar on social media and then from there i have mr dave lauer and a special guest for all of you to talk about the sec. What can we do? How can our voice be heard, and if we have some extra time at the end, we will happily be taking some of your questions so with all of that out of the way, let's play that clip right now is the sec, the best system to to do This, i think the american public kind of gets it that the system is not fully working for them. That's right! Oh yes, i believe, i believe, that's true all right. The apes exposed something really interesting.
They crowd sourced a way of rooting out corruption. They found things in the system that didn't seem right, like the information that they were getting was two weeks old, that they weren't being told that these 140 percent uh shorts totaled that 140, they they knew. There was a short, but they didn't get that information until later and they didn't get the information to the extent of it and doesn't that show that disclosure and transparency are not functioning to the protection of investors. I'm not saying this is without its challenges.

There are real challenges: they're, real challenges. Complexity helps. Give me a better system. Give me a better system to do this than the one we have in place, because the one we have in place is getting its butt kicked.

I i i i i believe in this system, i believe in our american democracy you're not going to get me to say. I'm not saying give me a a a difference. I mean listen, surely, based on financial, the financial system we have and the stock market is there a better system than the sec? Is there something in this crowd sourcing that the apes brought to bear? That can be useful? Can there be a partnership between the sec and a more crowd-sourced john? I live within the system, i'm in dream. Man, dream yeah.

You want yeah i'll dream, but i also want to get things done. I want to get things done on behalf of the investing public. Have you thought about outside of the bureaucracy? Is there something that could help you be more agile? So i i would say - and the compliment goes to senator grassley from iowa. He he no senator grassley on a decentralization point.

You're talking about it's called the whistleblower law. So in the aftermath of the 08 crisis and that big reform law dodd-frank, senator grassley fought hard that this agency and some other agencies stood up and put in place a whistleblower program and over the 10 or so years that this has stood up we've given awards. That's a crowd sourcing decentralized. What do we need to do and is the sec? Not enough? You know if you look at the past 10 years right or the past 20 years, the sec very rarely uh will send something and recommend it to the doj for prosecution.

That 2008 financial crisis - that's not true, i mean we br, we bring about 700 uh enforcement case 700 750 enforcement cases right year, and - and i can give you the exact figures but a whole chunk of those are also joint criminal investigations. You know with all the financial shenanigans that have gone over the years. The only person we've really brought to heal is martha stewart and that's got to tell you something about just how tilted this thing is forgotten a little bit about bernie madoff but well speaking, of bernie madoff, who came up with payment for order flow, yeah, yeah right. No, i i instead, but he did serve his time in jail and everything, one guy and and one woman generally.
It seems like people don't go to jail for financial crimes, they pay fines. I think that's a fair statement. That's that's! That's fair. General department of justice has the criminal authority understood.

We have the civil that's right and on the civil side, more than 50 of the fines levied from sec judgments are not collected. There are less financial judgments that are levied now than there were 15 years ago. It doesn't seem like the sec. Has the ability to keep up? Is there anything that you would think could bring more teeth to the sec in terms of accountability? That would be more of a stick.

I think what we can do is bring important cases that are sort of high profile cases that show people no you're over the line. It could be accounting fraud, it could be insider trading, but is there something that would be more uh of a deterrent? More of a deterrent is, is bars, we're individual, individual accountability, there's nothing like individual accountability to send a deterrent across the whole market. If somebody's held accountable, we only have civil law enforcement, but that means borrowing them from the industry or trading or appearing before us willing to litigate this. This agency has to be willing to go into court and you know take some losses from time to time, but go into court right.

I think all of those things, but it's trying to use high profile cases to bring folks back on the right side of the line and also, i would say, a focus on gatekeepers gatekeepers, the accountants, the lawyers, the the underwriters and so forth. Um. That sends a signal across a market too take out the little guys. No, no, no! No, the gatekeepers, the gay gamers john coming back in the year, we're going to see how this all worked out.

Ah give us a little bit more time but yeah. I got it well by then it'll be a whole different financial market. All right really appreciate it fascinating. Thank you.

Thank you. Well, right there. That was once again from episode 5 of the problem with jon stewart. This is all about the stock market and that clip alone with mr gary gensler, the chairman of the sec, for good reason.

Ooh, we just got kicked all right. We got kicked off youtube, uh yeah. What you're right yeah we just got taken down by youtube. All right: well, we almost made it here.
I have an idea, um we got taken down. I cannot believe we got taken down all right, we're just gon na hang on one. Second, if need be, if.

13 thoughts on “Can we trust the sec?”
  1. Avataaar/Circle Created with python_avatars Saiyan_Prince Studios says:

    Can’t trust them at all. If nothing else hopefully it’s an eye opening experience for naive young democrats. They don’t care about the average person or the poor. They care about the rich elite hedge funds who pay to get them re-elected. Just like joe Biden promised to get rid of student loans and forgive them. More bs. I’m not saying rich republicans care about poor republicans either. But they don’t pretend to at least.

  2. Avataaar/Circle Created with python_avatars Mitchell Anderson says:

    “Lip service” – GG, 2022

  3. Avataaar/Circle Created with python_avatars Joe Dasilva says:

    When all else fails, SILENCE THEM! Welcome to the ne America.

  4. Avataaar/Circle Created with python_avatars marco bertolini says:

    Hey Matt 👋🏼

  5. Avataaar/Circle Created with python_avatars marco bertolini says:

    Sooooooooooooooon

  6. Avataaar/Circle Created with python_avatars marco bertolini says:

    Moooooooooooooon

  7. Avataaar/Circle Created with python_avatars Chris Hattless says:

    I’ve officially seen a live stream plug pulled… “policy violations”????

  8. Avataaar/Circle Created with python_avatars Mark Browning says:

    I am watching TV interviews being shown and discussed on other channels. But only Matt gets cut. This has to be a manual switch. I saw this interview on three other channels just today alone.

  9. Avataaar/Circle Created with python_avatars two¢ says:

    looks like 'Gatekeepers' is YouTubes safe word

  10. Avataaar/Circle Created with python_avatars Justin and his Matzoh Balls says:

    (No)

  11. Avataaar/Circle Created with python_avatars Mr. Hardstyle says:

    Whackkkk damn

  12. Avataaar/Circle Created with python_avatars Key Gen says:

    Kenny pulled the plug

  13. Avataaar/Circle Created with python_avatars bigorangemachine says:

    LMAO COPYRIGHT

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